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201701623
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Last modified
7/3/2017 5:40:40 PM
Creation date
3/15/2017 11:24:45 AM
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DEEDS
Inst Number
201701623
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3 <br />201701623 <br />interest in the Property, Tenant will attorn to and recognize Lender as its landlord under the <br />Lease for the remainder of the term of the Lease (including all extensions periods which have <br />been or are hereafter exercised) upon the same terms and conditions are set forth in the Lease. <br />Such attornment shall be effective and self - operative, without the execution of any further <br />instrument on the part of any of the parties hereto, immediately upon Lender succeeding to <br />Landlord's interest in the Leased Premises. <br />6. Lender's Obligations Upon Succeeding As Landlord - Tenant agrees that, in <br />the event Lender succeeds to the interest of Landlord under the Lease, Lender shall not be: <br />(i) for any default, act or omission of any prior landlord (including the Landlord), <br />except to the extent that such default, act or omission is continuing; or <br />(ii) subject to any offsets or defenses (other than accord and satisfaction) which <br />Tenant might have against any such prior lessor, except to the extent such offsets or defenses <br />arise out of acts or omissions by Lender or such other owners. Notwithstanding the foregoing, <br />Lender (and any successor landlord) shall be subject to all offsets permitted by the Lease that <br />relate to Tenant not receiving the Total Allowance (as defined in the Lease); or <br />(iii) bound by any base rent, percentage rent, additional rent or any other amounts <br />payable under the Lease which the Tenant might have paid in advance for more than the one <br />month in advance of its due date under the Lease to any prior landlord (including, without <br />limitation, the defaulting Landlord) unless (a) such payment is expressly required under the <br />Lease (such as estimated additional rent amount on account of operating expenses, taxes and <br />other escalations or pass - throughs) or (b) Lender actually receives such Minimum Rent or <br />Additional Rent; or <br />(iv) accountable to the Tenant for any security deposit paid under the Lease not <br />actually paid (or credit thereof paid) over to Lender; <br />(v) bound by any material amendment or modification of the Lease made without <br />the Lender's written consent thereto, to the extent such amendment or modification (a) reduces <br />rent or additional rent payable under the Lease; (b) changes the date upon which the term of the <br />Lease would otherwise end; (c) more than insignificantly reduces Tenant's obligations under the <br />Lease; (d) materially increases Landlord's obligations under the Lease; provided, however, <br />Lender shall be deemed to have approved any amendment or modification of the Lease if it is not <br />approved or denied by Lender within twenty (20) days' after notice thereof and receipt of the <br />amendment or modification to be executed; <br />7. Notices - Any notices, communications and waivers under this Agreement shall <br />be in writing and shall be (i) three (3) business days after having been timely deposited by <br />registered or certified mail, return receipt requested, or (ii) by overnight express carrier, <br />addressed in each case as follows: <br />
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